The State Securities Commission (SSC) has requested VPS Securities Company to stop distributing or dividing real estate with a capital of VND10,000 or more to sell to investors. This information was announced by Vice Chairman of the SSC Bui Hoang Hai at the regular press conference of the Ministry of Finance on the afternoon of June 18.
The State Securities Commission requests to stop the real estate investment model of dividing capital into 10,000 VND (Illustration photo)
Regarding the form of real estate with divided value, Mr. Bui Hoang Hai said that the securities law currently has no specific regulations on this method of real estate investment. However, the State Securities Commission has obtained related information and assessed that this is a type with many risks.
Recently, the form of real estate subdivision is by VPS Securities Company in cooperation with Fnest Joint Stock Company. Accordingly, the value of real estate is divided into investment shares, called "Fnest". In each sale, a Fnest has a primary face value of 10,000 VND.
With this form, a real estate valued at 10 billion VND will be divided into 1 million Fnest, investors can buy in small parts, thereby benefiting from the increase in value of the real estate and exploitation and management activities.
According to Mr. Bui Hoang Hai, after receiving the information, the State Securities Commission had a meeting with VPS and requested that this unit stop all activities of distributing shares or dividing real estate to sell to investors.
In response to clarifying this content, Deputy Minister of Finance Nguyen Duc Chi emphasized that the provision of services by securities companies must be within the licensed business fields and industries. According to Mr. Chi, activities outside the scope will have to stop so that the management level can make a comprehensive assessment.
Source: https://nld.com.vn/uy-ban-chung-khoan-len-tieng-ve-mo-hinh-dau-tu-bat-dong-san-chia-nho-voi-von-tu-10000-dong-196240618205428212.htm
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